Working Life

Big money. Two trillion dollars. If you could touch it, it would reach…oh, I dunno, I’m not going to tell you how high that stack would go and, actually, the point is, you can’t touch it: it’s stashed overseas. In corporate bank accounts. But, here’s the beauty: if you want to know what it feels when the Fortune 500 fleece the country to the tune of $550 billion in dodged taxes on that $2 trillion hiding in foreign bank accounts, just pull out your billfold…empty…well, that’s cuz the tab for that fleecing is on YOU.

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In honor of tax day, check out these corporate loopholes. And, then, send your check with a non-smiley face on the envelope to the IRS.

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Just so we’re clear, and this bears repeating even if it is obvious, the richest people in the country are going to, once again, be the gift of more welfare-for-the-rich under the tax proposals of House Budget Committee Chairman Paul Ryan–while, just by the numbers, lower income people will get hit with a tax increase. Don’t you love this system?

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Most of the nonsense coming from Congress about budgets — and that nonsense is particularly of a Republican Party flavor but also emanating from Democrats — touts more tax breaks and tax cuts for business. It’s entirely crazy. The one island of sanity comes from the Progressive Caucus.

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What I really like about corporate skullduggery is that at least it’s usually done with big numbers, as in billions of dollars. Nothing on the cheap (except, of course, when it comes to paying workers). In another installment of “how can we fill our coffers, pay our CEO millions of dollars and fleece the public” comes today’s news: Corporate-based America is robbing the states of billions of dollars by dodging taxes.

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I know, you are shocked, shocked, shocked that the proposal from Congressman Dave Camp, the Republican chairman of the House Ways and Means Committee, is awful. But, good to have the facts on exactly why.

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It’s new data but not a new revelation because this bit of news is nothing we haven’t already become accustomed to. Corporations are robbing the country, robbing because corporations pocket profits made possible from all the investments in human and physical capital made thanks to taxes regular people pay but the same corporations do squat when it comes to paying a fair share.

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Really, people are being grossly unfair to Max Baucus, wondering why someone who doesn’t speak Chinese would qualify to serve as ambassador. But, c’mon people, focus on the important lingo Baucus brings to the table: it would be hard to find another Democratic elected official who speaks such fluent corporate shillism…The man has got a perfect pitch. But, there is a silver lining.

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You’ve come to expect here a very skeptical, verging on enraged, attitude towards how the elites talk about taxes — including Democrats. Aggressive proposals to raise taxes to reasonable levels, particularly on the wealthy, just can’t be found with a few exceptions. Here is one that makes a bit of progress.

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There is so much rubbish the traditional media churns out about taxes it’s just hard to keep track of it. So, what’s a thinking person to do? Check this out.

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